How Digibank by DBS putting Feather into Digitalisation of India

Today, the wave of digitalization has spread out to the whole world. We are living in the world surrounded by technology. We are now using technology and apps for all our day to day activities be it entertainment or planning an outing.

We are taking the benefit of technology for almost everything then why not for the banking sector? Imagine how good and effective it would be if we can get all the benefits of technology for all our banking issues. Well, this is no longer something that can only be thought of but is now a reality.

DBS has come up with India’s first digital-only bank “Digibank” that is the perfect digitalized solution for all your banking activities. With so many attractive features and ease of using, it would not be wrong to call it as a bank for the future generation. With the uncountable benefits that the app offers to its users, is the main reason that it is shining brighter than its competitors- Kotak 811, ICICI pockets, etc. to name a few.

Let us take you through the app with a crystal clear review to know the insight of what the app offers to its users and how can it change the banking experience for you. Take a look.

RBI Approved: Well, to begin with, the bank is approved by RBI which makes it a reliable option to consider when it comes to your banking matters. Other than this, the bank is offering a tempting 7% rate of interest on saving to its users. Now you exactly know where to invest all your savings.

No Limit for ATM Withdrawal: To put more light on the app’s functionality, it offers unlimited withdrawal from ATM. Where every other bank has limited number of withdrawal attempts, with digibank you can withdraw even a large amount with an unlimited number of withdrawals. Isn’t it an awesome way out never get short of money?

Saves Additional Charges: Who doesn’t like saving? We all do. Even if it is a small amount. Digibank not only offers you to do NEFT and IMPS at any time and from anywhere but also offers it for free. Now that is something that we will definitely be attracted to.

Instant Debit Access: To add more to its strength the digibank app gives you the option to enable or disable your debit card instantly. Moreover, because of it has inbuilt security features, the app no longer is in need to generate an OTP for any of your online transactions.

24×7 Availability: And if you are in need of any assistance from the app even at any odd hours, don’t take any second thoughts to going for it as it offers a 24×7 virtual assistant backed up with artificial intelligence.

Budget Management: The app comes with a budget optimizer that lets you plan your budget, tracks all your expenses and analysis of your purchase patterns along with an ability to link goal based recurring deposits. Post understanding your purchasing patterns, the app offers you with a number of actionable advice to make your experience even better.

What has been the most attractive for the users is that there is no hidden charges or fee that the bank demands for. The bank also gives relaxation with the much- needed paperwork that other banks consider important. The highlight with digibank is that there is no limit on the maximum amount whereas 811 has a max limit of 1 Lakh.

To sum up things, here is a quick comparison between digibank and its competitor Kotak 811. Digibank account opens in 90 seconds with a 7% interest rate whereas it takes 5 minutes for a Kotak bank with a 6 % rate. Digibank also offers a virtual card and physical debit card while you get charged for the same with Kotak 811. In addition, there is no cap on deposit amount.

Overall the bank and the app are very impressive with their working and easy accessing facilities. What can win the customer’s heart is the transparent interface. If you need a smooth banking experience, digibank is the name you can rely on.

Saurabh Mukhekar is a Tech Blogger from Pune, India. He is also thinker, maker, life long learner, hybrid developer, edupreneur, mover & shaker. He’s captain planet of BlogSaays and seemingly best described in rhyme. Follow Him On Facebook